Should You Buy a Super Top-up Health Insurance Policy?

Super Top-up Health Insurance

A super top-up policy comes into play only after you’ve exhausted your base health insurance limit. For example, if you have a ₹10 lakh policy and use it all due to multiple hospitalisations, the super top-up will come into play. However, to utilise a super top-up, you must either have a base policy or cover the expenses out of pocket up to a pre-decided limit, also called the deductible, set during purchase. It’s always wiser to ensure financial protection without dipping into personal savings.

Simply put, a super top-up plan works according to the deductible you choose. Once the deductible limit is crossed, any additional expenses are covered by the insurance company. For instance, with a ₹50 lakh policy (₹10 lakh base cover + ₹40 lakh super top-up), your medical expenses up to ₹50 lakh are covered, offering comprehensive financial protection.

Tip: As a policyholder, you have the option of purchasing a health insurance top-up plan from a different health insurer. However, It is often recommended that you have both the base policy and super top-up health insurance with the same insurer for seamless claim processing.

Should You Buy a Super Top-up Health Insurance Policy?

With the medical inflation soaring, enhancing your health insurance coverage may be the best way forward. Even if you are someone who is under the cover of a group insurance plan, you can consider opting for a super top-up over and above the existing coverage. Group health insurance typically offers modest coverage, which may not be adequate in case an expensive/ prolonged treatment is required.

You may consider the option of investing in a health plan with a higher sum insured, keeping in mind the ease of a claim settlement. But keep in mind that it will be heavier in your pocket. A super top-up plan, on the other hand, will prove to be more cost-effective. Let us now understand the reason behind this low premium.

Insurers offer top-up/ super top-up health insurance plans only when you, the policyholder, pay the deductible amount. You need to pay the decided deductible amount before you can file a claim under the super top-up plan.

Top-Up or Super Top-up Health Insurance Policy?

Super top-up health insurance plans are usually considered to be more useful than a regular top-up plan. While top-up plans consider the deductible for every claim, a super-top typically considers the aggregate claim in that year for the claim to be triggered.

Let’s understand with an example.

1. You have a total health insurance coverage of ₹50 lakhs (₹10 lakh base cover + ₹40 lakh top-up), or
2. You have a total health insurance coverage of ₹50 lakhs (₹10 lakh base cover + ₹40 lakh super top-up).

Let’s see some claim scenarios.

So, it makes more sense to opt for a super top-up plan than a top-up plan, even if that is slightly more expensive.

However, do keep in mind that super top-up plans could also come with a limit on the room rent. There can be a mandatory waiting period, which you might have to serve. Also, remember that such plans usually might not offer benefits such as restoration benefits or no claim bonus.

Conclusion

With the country’s medical inflation at an all-time high, it is quite possible that your health insurance sum may soon be outpaced. It is, therefore, highly advised that you invest in a suitable super top-up health insurance plan that can boost your base cover. While there is the option of buying another health insurance plan, keep in mind that it will also increase your premium significantly. A super top-up plan is, thus, Jio Insurance Broking offers one of the most affordable ways to enhance your existing coverage.